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MakcuM [25]
3 years ago
14

Suppose you deposit $2,454.00 into an account today. In 6.00 years the account is worth $3,868.00. The account earned ____% per

year.
Business
1 answer:
Feliz [49]3 years ago
8 0

Answer:

Interest rate, R = 26%.

Explanation:

<u>Given the following data;</u>

Principal = $2,454.00

Simple interest = $3,868.00

Time = 6 years

To find the interest rate?

Mathematically, simple interest is calculated using this formula;

S.I = \frac {PRT}{100}

Where;

  • S.I is simple interest.
  • P is the principal.
  • R is the interest rate.
  • T is the time.

Substituting into the equation, we have;

3868 = \frac {2454*R*6}{100}

Cross-multiplying, we have;

3868 * 100 = 14724*R

386800 = 14724R

R = \frac {386800}{14724}

<em>Interest rate, R = 26.27 ≈ 26%</em>

<em>Therefore, the account earned 26% per year. </em>

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In January 2021, Vega Corporation purchased a patent at a cost of $200,000. Legal and filing fees of $50,000 were paid to acquir
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Answer:

c. $215,000

Explanation:

The computation of the amount charged to income is shown below:

But before that first we have to determine the book value as on Jan 2024 which is

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= $200,000 + $50,000

= $250,000

Amortized cost till year 2024 is

= ($250,000 ÷ 10 years) × 3 years

= $75,000

The three years is counted from 2021 to 2024

Now

Book value on Jan 2024 is

= $250,000 - $75,000

= $175,000

So,

Amount charged to income  is

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6 0
3 years ago
Burnett Corp. pays a constant $8.25 dividend on its stock. The company will maintain this dividend for the next 13 years and wil
Valentin [98]

Answer:

$55.134

Explanation:

Given

dividend paid on its stock = $8.25

Duration is next 13 years

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6 0
3 years ago
Read 2 more answers
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Misha Larkins [42]

Answer:

The correct answer is B. result from the political bias toward immediate benefits and deferred costs.

Explanation:

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By extending eligibility and increasing the benefits of a pay-per-use system while at the same time having fewer children to finance it, previous generations have left a fearsome financial obligation. Either taxes will increase dramatically for tomorrow's workers, lowering their standard of living, or benefits will fall for tomorrow's retirees, lowering their standard of living. A group will feel very angry.

These problems were anticipated even when politicians were raising payments, but each elected government simply kicked the can and allowed things to continue as usual.

 Social security systems and pension funds are actuarially not funded systems. There is no obligation for this generation to have children at the same rate as previous generations. Therefore, when those born in the 1950s reach retirement age in the next century, their stipends will feel more like a burden due to the ranks of non-active members of society that will depend on their contributions to live.

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3 years ago
Inventory at the end of the year was inadvertently overstated. Which of the following statements correctly states the effect of
jasenka [17]

Answer:

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6 0
3 years ago
The stated interest rate is the rate quoted in the bond contract used to calculate the cash payments for interest.
Drupady [299]
That statement is true

A stated interest rate is the return of investment that is not compounded by the interest accumulation throughout the years.
In general,  a stated interest rate will give us a lower amount of return compared to effective annual interest rate that compound the accumulation throughout the years,
8 0
3 years ago
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